Global Polyurethane Catalysts Market

Global Polyurethane Catalysts Market Size, Share, Growth Analysis, By Type(Catalysts, Surfactants), By Application(Foam, Adhesive) - Industry Forecast 2023-2030


Report ID: SQMIG15A2114 | Region: Global | Published Date: February, 2024 | Pages: 260 | Tables: 68 | Figures: 75

Global Polyurethane Catalysts Market Insights

Polyurethane Catalysts Market size was valued at USD 69.98 billion in 2021 and is poised to grow from USD 75.19 billion in 2022 to USD 105.29 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).

As more lightweight, robust, and multifunctional goods hit the market, demand for polyurethane catalysts is expected to rise. Furthermore, the forecast period is expected to bring new opportunities for the growth of the polyurethane catalyst market, owing to the increasing use of various types of polyurethane additives, such as catalysts, surfactants, fillers, and flame retardants, which contribute to the outstanding performance of foams and offer advantages in final foam performance.

As a result of technological advancements and the introduction of environmentally friendly products, more opportunities for overall industry growth are being created. Among the majority of end-user industries, the footwear industry heavily relies on polyurethane catalysts, and shoe manufacturing is expanding globally.

Construction activities are boosting demand for rigid foams, which is expected to allow the polyurethane catalyst market to expand significantly. The use of polyurethane catalyst for the development of rigid foam is expected to increase with the increased use of polyurethane in construction projects over the forecast period, driving market growth.

US Polyurethane Catalysts Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Polyurethane Catalysts Market Segmental Analysis

Global Polyurethane Catalysts is segmented based on the Type, Application, and region. Based on the Type, the Global Polyurethane Catalysts is segmented as Catalysts, Surfactants, Fillers, Flame Retardants and Others. Based On Application, the Global Polyurethane Catalysts is segmented as Foams, Coating, Glue Adhesion Agent, Elastomer, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Polyurethane Catalysts Market Analysis by Product

Based on Product, Flame retardants type segment held the largest market share. Organ halogen and organophosphate compounds like polybrominated diphenyl ethers (PBDEs) and chlorinated tris are among the flame retardants that are of concern (TDCPP). There are several different kinds of flame retardants, including certain inorganic flame retardants, phosphorous-based flame retardants, brominated flame retardants, and chlorinated flame retardants. These are employed to create premium polyurethanes for usage in a range of industries, including automotive, construction, and electronics.

Polyurethane Catalysts Market Analysis by Application

Global Polyurethane Catalysts has been segmented on the basis of Foam, Coating, Glue Adhesion Agent, Elastomer, and Others. In 2021, the foam application market had the biggest market share for polyurethane catalysts. While stiff foams are mostly utilized as insulating materials in refrigerators, flexible foams are employed in applications including mattresses, furniture, and construction insulation, among others. PU-based coatings, which are typically used as additives in paints, varnishes, and finishing coats to protect and seal wood, consume a sizable amount of the PU by volume globally. PU-based paints are an excellent coating material for many wooden objects due to their exceptional resistance to water, high humidity, extreme temperatures, and fungus. Over the projection period, strong demand for PU foams is anticipated to drive PU catalyst demand. The segment's extensive use as cushioning in a variety of consumer and industrial goods, such as beds, furniture, automobile interiors, carpet underlay, and packaging, will help it maintain its market dominance over the projection period.

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Global Polyurethane Catalysts Market Regional Insights

Asia Pacific held the largest Global Polyurethane Catalysts market share. China is the world's biggest producer of footwear and automobiles, making it the biggest consumer of PU. China produces about % of the world's footwear, while India, Vietnam, and Indonesia collectively produce about 15 percent. As a result, Asia-Pacific (which includes China) accounted for over 45% of the world's total polyurethane consumption.

Europe accounts for a sizable portion of the global polyurethane catalyst market, owing to rising demand for residential insulation to improve energy efficiency, as well as legal requirements that drive the regional market.

The North America market growth has been accelerated due to the current economic climate and the introduction of many domestic businesses with strong technical capabilities. The US economy is distinguished by its high market awareness and technically sophisticated manufacturing, which drives market growth in North America.

Middle East and Africa is a rapidly expanding market demand. The demand for polyurethane catalysts in the region has been driven by the need for household protection as well as rising infrastructure practices.

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Global Polyurethane Catalysts Market Dynamics

Polyurethane Catalysts Market Driver

  • Due to the rise in vehicle manufacturing, demand for polyurethane catalysts is anticipated to grow significantly throughout the forecast period. Because it shields leather from UV rays and extreme heat, polyurethane is utilized in the seat coverings of automobiles. In the automotive sector, polyurethane is also employed as coatings for a variety of interior and exterior applications. The need for polyurethane in the automotive industry is also increasing as a result of the surge in demand for lightweight automobiles.
  • The market for polyurethane is expanding as auto production increases. This, in turn, is driving the market growth for polyurethane catalyst.
  • One of the main components expected to have a positive impact on the market is the high demand from the automobile sector. Growing disposable incomes, particularly in emerging nations, are anticipated to lead to an increase in first-time consumers and numerous new automotive industry demands.

Polyurethane Catalysts Market Restraint

  • Price volatility for raw materials: Crude oil is the main source of raw materials used to make polyurethane. Brent crude oil spot prices in 2020 averaged US$ 40 per barrel in June, up US$ 11 from May and US$ 22 from multiyear lows from April, according to the US EIA (Energy Information Administration). Prices increased as many areas that had been on lockdown previously sought more liquid fuels and OPEC+ producers agreed to extend the most drastic output restrictions through July. The EIA predicted that global oil inventories fell in June 2020 for the first time since December 2019 due to supply decreases and increased demand. The global oil inventory averaged 8.4 million barrels per day, which caused crude oil prices to drop sharply. Owing to such fluctuating crude oil prices, raw material prices of polyurethane additives are volatile.

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Global Polyurethane Catalysts Market Competitive Landscape

Global Polyurethane Catalysts is relatively fragmented, with a number of competitors. The prominent players operating in the market are constantly adopting various growth strategies to stand in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players include BASF SE, Manali Petrochemicals, Covestro AG, Kao Corporation, The Dow Chemical Company, Huntsman International LLC, Suzhou Xiangyuan Special Fine Chemical Co., Ltd, Tosoh Corporation, Polychemie Asia Pacific Permai., Evonik Industries AG, and others

Polyurethane Catalysts Market Top Player's Company Profiles

  • Evonik Industries
  • BASF
  • Huntsman Corporation
  • The Dow Chemical Company
  • Covestro AG
  • Air Products and Chemicals, Inc.
  • Wanhua Chemical Group Co. Ltd.
  • Momentive Performance Materials Inc.
  • Mitsui Chemicals, Inc.
  • Albemarle Corporation
  • LANXESS AG
  • Chemtura Corporation
  • Solvay SA
  • Tosoh Corporation
  • Dymax Corporation
  • Kukdo Chemical Co., Ltd.
  • Trinseo LLC
  • IFS Chemicals Group
  • Baerlocher GmbH
  • King Industries, Inc.

Polyurethane Catalysts Market Recent Developments

  • In May 2022, Evonik opens new polyurethanes technical service and training center in Istanbul. With its state-of-the-art equipment the new 500 square meter facility offers regional customers digital analysis methods for polyurethane (PU) foam applications, first-class technical service, and customized training opportunities.
  • In July 2022, Huntsman Starts Commercial Operation of New Splitter at its Geismar, Louisiana Polyurethanes Plant.

Global Polyurethane Catalysts Key Market Trends

  • The two main trends in Polyurethanes catalyst market are: (1) the further improvement of all sustainability aspects, and (2) the digitalization of product and process development, are explored for the future development of polyurethanes. The former may be seen in four key areas: the creation of better insulating materials to cut down on energy use; the creation of raw materials with a smaller carbon footprint; the reduction of odours and emissions in indoor applications; and the recycling of industrial and consumer waste. The current analysis concludes with a few illustrations of how, in the future, digitalization can influence and accelerate research and development activity.

Global Polyurethane Catalysts Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Polyurethane Catalysts Analysis, in terms of application, the foam segment held the largest market share in both flexible and rigid forms and accounted for approximately 43% of the total Polyurethane catalysts market. Among regions, During the projection period, Asia Pacific region hold the majority market share, followed by North America and Europe. 

Report Metric Details
Market size value in 2021 USD 69.98 billion
Market size value in 2030 USD 105.29 billion
Growth Rate 4.4%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Catalysts, Surfactants, Fillers, Flame Retardants, Others
  • Application
    • Foam, Adhesive, Sealant, Coating, Elastomer, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Evonik Industries
  • BASF
  • Huntsman Corporation
  • The Dow Chemical Company
  • Covestro AG
  • Air Products and Chemicals, Inc.
  • Wanhua Chemical Group Co. Ltd.
  • Momentive Performance Materials Inc.
  • Mitsui Chemicals, Inc.
  • Albemarle Corporation
  • LANXESS AG
  • Chemtura Corporation
  • Solvay SA
  • Tosoh Corporation
  • Dymax Corporation
  • Kukdo Chemical Co., Ltd.
  • Trinseo LLC
  • IFS Chemicals Group
  • Baerlocher GmbH
  • King Industries, Inc.
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Polyurethane Catalysts Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Polyurethane Catalysts Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Polyurethane Catalysts Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polyurethane Catalysts Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Polyurethane Catalysts Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Polyurethane Catalysts Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Polyurethane Catalysts Market size was valued at USD 69.98 billion in 2021 and is poised to grow from USD 75.19 billion in 2022 to USD 105.29 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).

Global Polyurethane Catalysts is relatively fragmented, with a number of competitors. The prominent players operating in the market are constantly adopting various growth strategies to stand in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players include BASF SE, Manali Petrochemicals, Covestro AG, Kao Corporation, The Dow Chemical Company, Huntsman International LLC, Suzhou Xiangyuan Special Fine Chemical Co., Ltd, Tosoh Corporation, Polychemie Asia Pacific Permai., Evonik Industries AG, and others 'Evonik Industries', 'BASF', 'Huntsman Corporation', 'The Dow Chemical Company', 'Covestro AG', 'Air Products and Chemicals, Inc.', 'Wanhua Chemical Group Co. Ltd.', 'Momentive Performance Materials Inc.', 'Mitsui Chemicals, Inc.', 'Albemarle Corporation', 'LANXESS AG', 'Chemtura Corporation', 'Solvay SA', 'Tosoh Corporation', 'Dymax Corporation', 'Kukdo Chemical Co., Ltd.', 'Trinseo LLC', 'IFS Chemicals Group', 'Baerlocher GmbH', 'King Industries, Inc.'

Due to the rise in vehicle manufacturing, demand for polyurethane catalysts is anticipated to grow significantly throughout the forecast period. Because it shields leather from UV rays and extreme heat, polyurethane is utilized in the seat coverings of automobiles. In the automotive sector, polyurethane is also employed as coatings for a variety of interior and exterior applications. The need for polyurethane in the automotive industry is also increasing as a result of the surge in demand for lightweight automobiles.

The two main trends in Polyurethanes catalyst market are: (1) the further improvement of all sustainability aspects, and (2) the digitalization of product and process development, are explored for the future development of polyurethanes. The former may be seen in four key areas: the creation of better insulating materials to cut down on energy use; the creation of raw materials with a smaller carbon footprint; the reduction of odours and emissions in indoor applications; and the recycling of industrial and consumer waste. The current analysis concludes with a few illustrations of how, in the future, digitalization can influence and accelerate research and development activity.

Asia Pacific held the largest Global Polyurethane Catalysts market share. China is the world's biggest producer of footwear and automobiles, making it the biggest consumer of PU. China produces about % of the world's footwear, while India, Vietnam, and Indonesia collectively produce about 15 percent. As a result, Asia-Pacific (which includes China) accounted for over 45% of the world's total polyurethane consumption.

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